ETF comparison
Verified factor-similar pair

QVMS vs TPSC

These US-listed equity ETFs share verified FF6 US factor exposure. The modeled volatility of their factor-return difference is at or below 3% annualized on both the same 36-month window and a longer factor-history check.

SMB
Current similarity score
82
Factor-similar

The score is 100 for identical fitted exposures and 80 at the 3% modeled tracking-error limit. It includes market and non-market factors; it does not indicate which fund earned or is expected to earn more. How to read this score.

Quick Read

  • QVMS has the higher backtested relative Sharpe (1.096 vs 0.839).
  • QVMS has the lower published fee (0.15% vs 0.52%).
  • TPSC is cheaper on dividend valuation (90 vs 113, where 100 is each fund's historical median).

These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.

QVMS

Invesco S&P SmallCap 600 QVM Multi-factor ETF
SMB UMD
Adj. R2
0.967
Rel. Sharpe
1.096
Mkt beta
0.90
AUM
US$217M
MER
0.15%
Valuation
113

TPSC

Timothy Plan US Small Cap Core ETF
SMB
Adj. R2
0.967
Rel. Sharpe
0.839
Mkt beta
0.88
AUM
US$322M
MER
0.52%
Valuation
90

Market beta uses the common 36-month window through 2026-08. Adjusted R² and relative Sharpe describe each fund's separately published full-history model.

Factor Exposure Match

Blue bars compare factor beta magnitude from the same 36 months shown above. Green bars compare absolute t-stat strength; dim bars indicate |t| below 1.96. Every factor enters the distance calculation regardless of its t-statistic.

SMB
QVMS
+1.03
|t|
+15.2
TPSC
+0.89
|t|
+12.0
diff +0.14
HML
QVMS
+0.27
|t|
+3.4
TPSC
+0.33
|t|
+3.8
diff -0.06
RMW
QVMS
+0.01
|t|
+0.2
TPSC
+0.16
|t|
+2.7
diff -0.15
CMA
QVMS
+0.19
|t|
+2.1
TPSC
+0.13
|t|
+1.3
diff +0.06
UMD
QVMS
+0.20
|t|
+4.5
TPSC
+0.15
|t|
+3.0
diff +0.05

What Happened Over the Same 36 Months

QVMS adjusted total-return CAGR
14.85%
TPSC adjusted total-return CAGR
14.54%

QVMS ahead by 0.30 percentage points/year over 2023-09 through 2026-08. This is the observed difference between annualized compounded returns from adjusted prices, not an expected return or a factor-model estimate.

Historical factor attribution

Signed contribution to QVMS minus TPSC, percentage points/year, using fitted 36-month exposures and average factor returns over those same months:

Market factor
+0.21
Other factors, combined
+0.21
Total factor-implied difference
+0.43

This arithmetic-average factor attribution excludes the regression intercept and fund-specific return. It therefore need not equal the observed CAGR difference and is not a forecast.

Why This Pair Matches

Modeled factor tracking error · 36m
2.65%/yr
Modeled tracking error · 120m factor history
2.28%/yr
Mkt beta diff
0.01
Rel. Sharpe diff
0.257

Fitted exposures and factor covariance estimate the volatility, not the average or direction, of the funds' modeled return difference. The common regression window is 2023-09 through 2026-08. A short-window estimate and a longer factor-history check must both be at or below 3.000%; this is a screening limit, not a forecast. Holdings, turnover, taxes and trading costs require a separate review. The Sharpe figures elsewhere on this page come from each fund's published full-history model and do not enter similarity ranking. See the full methodology.

QVMS fund page TPSC fund page US ETF Leaders US Universe
Important context

VerifiedBeta publishes educational ETF research, not personalized investment advice, portfolio management, or security recommendations. Funds that screen well here can still be unsuitable for your objectives, taxes, liquidity needs, or constraints. Review fund documents, methodology assumptions, and your own circumstances before acting. See the full disclaimer.